FedEx
FedEx Corporation, originally Federal Express Corporation, is an American multinational conglomerate holding company focused on transportation, e-commerce and business services based in Memphis, Tennessee. The name "FedEx" is a syllabic abbreviation of the name of the company's original air division, Federal Express, which was used from 1973 until 2000. FedEx today is best known for its air delivery service, FedEx Express, which was one of the first major shipping companies to offer overnight delivery as a flagship service. Since then, FedEx also started FedEx Ground, FedEx Office, FedEx Supply Chain, FedEx Freight, and various other services across multiple subsidiaries, often meant to respond to its main competitor, UPS. FedEx assists in the transport of some United States Postal Service packages through their Air Cargo Network contract.
Some of the key events about FedEx
- 1971Founded as Federal Express Corporation, pioneering overnight delivery services
- 1973Launched operations with 14 small aircraft serving 25 cities
- 1975FedEx faced near-bankruptcy and was denied a crucial loan
- 1978Went public on the New York Stock Exchange
- 1983Introduced the "ZapMail" fax service, an early adoption of electronic document delivery
- 1984Expanded internationally with service to Europe and Asia
- 1994Launched fedex.com, one of the first major e-commerce websites
- 1994The company was fined $3.5 million for hazardous waste violations
- 1995Acquired Flying Tigers, significantly expanding its international reach
- 1997FedEx pilots went on strike, disrupting operations
- 2000Rebranded as FedEx Express and expanded its portfolio of services
- 2002The company paid $26.8 million to settle a racial discrimination lawsuit
- 2004Acquired Kinko's, expanding into retail and office services
- 2011FedEx agreed to pay $8 million to settle allegations of overcharging government customers
- 2014FedEx was indicted for shipping illegal online pharmacy drugs
- 2016Completed the acquisition of TNT Express, strengthening its global network
- 2016The company paid $240 million to settle driver misclassification lawsuits
- 2018FedEx experienced a major cybersecurity breach affecting customer data
- 2019The company ended its ground delivery contract with Amazon
- 2020FedEx faced criticism for poor handling of COVID-19 vaccine shipments
Disclaimer: This material is written based on information taken from open sources, including Wikipedia, news media, podcasts, and other public sources.
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